'Maverick' Corbyn a 'Threat to Economic Progress'

'Maverick' Corbyn a 'Threat to Economic Progress'

Article excerpt

A TREASURY minister will tell City leaders that Jeremy Corbyn poses a greater risk to the economy than leaving the European Union.

John Glen will insist that the 'maverick' Labour leader and shadow chancellor, John McDonnell, would 'unravel decades of economic progress' if they came into power.

Economic secretary Mr Glen will attempt to reassure figures from the financial sector that the UK will not 'pull up the drawbridge' to the rest of the world after Brexit.

Mr Glen will address a conference in London hosted by financial services lobbying group TheCityUK - with Mr McDonnell set to follow him on stage later today.

The Treasury minister will say of his Labour rival: "I don't believe that this is a man ready to occupy 11 Downing Street."

He will tell the conference: "I want to be clear that it is not Brexit that poses the greatest risk to the health of our financial services sector, but it is the Labour Party, cut adrift from its noble centre-left traditions, which would unravel decades of economic progress. …